Wales Pension Partnership publishes statement on exclusions and divestment
Author: Tom Parker | Published: November 19, 2025
Pool the Wales Pension Partnership has published a statement detailing its exclusions and divestment policy.
It comes as three members of the Greater Gwent Pension Fund – namely Monmouthshire, Newport and Caerphilly – said that its pension fund should be reviewed in case any holdings are linked to the conflict in Gaza.
In response, the pool said it takes its responsibilities as an asset owner seriously, adding that it works closely with stakeholders to make sure its investments reflect its values and legal obligations.
The Wales Pension Partnership explained: “We build environmental, social and governance (ESG) factors into our investment and stewardship work. This covers issues such as climate change, human rights and violations of international law.
“We are committed to listening to, understanding, and responding openly and responsibly to our members’ concerns, following our legal duties and the latest guidance from the LGPS Scheme Advisory Board.
“We take a multi-layered approach to stewardship. Robeco is our appointed voting and engagement provider, and we are also members of the Local Authority Pension Fund Forum.
“Both parties engage with companies on our behalf to drive improvements in practices and reporting, and to help us reduce risks in our investments. We receive regular reports on their progress, which guide our decisions.
“If engagement with a company that does not reflect our values and legal obligations fails, we discuss potential courses of action with our investment managers, with divestment as a possible outcome. “Some of our investment strategies already have specific exclusions, meaning we don’t invest in companies involved in, for example, tobacco, palm oil, controversial weapons and coal mining.
“We are currently reviewing our investment framework, including exclusions that could apply to all WPP investments, where possible. We expect to finish this review by early 2026.”
